When the budget was introduced, the province announced the creation of the Saskatchewan Indigenous Investment Finance Corporation, and at the legislature on Monday, new legislation was introduced to make it happen. Trade and Export Development Minister Jeremy Harrison says the legislation will support participation in the province’s natural resource and value-added agriculture sectors.

The SIIFC will offer loan guarantees to eligible First Nations and Metis communities and organizations to support investment in things like forestry, mining, oil and gas, energy production and value-added agriculture projects.

When speaking with Indigenous business owners, Indigenous leaders and officials from major resource companies, Harrison says, a lack of access to capital was identified as the primary barrier to Indigenous equity ownership of these types of projects. The SIIFC will provide up to $75 million in loan guarantees for eligible projects.